BTC nears 5-month losing streak amid Israel-Iran conflict

Bitcoin's daily decline is approaching 4% after Israel conducted a preemptive strike on Iran, Cointelegraph reported. The price of BTC is currently testing the $63,000 support level. With the February monthly close just hours away, the publication noted that Bitcoin is at risk of recording its fifth consecutive monthly decline for the first time in seven years. A higher-than-expected U.S. Producer Price Index (PPI) for January, announced on Feb. 27, is also contributing to negative market sentiment. Meanwhile, according to Coinglass data, forced liquidations have surpassed $250 million in the past four hours. Per CoinMarketCap, BTC is trading at $63,658.51, down 6.42% over the past 24 hours.